Pension & Retirement Planning

Pension & Retirement Planning

​Helping you take control of your future by planning a financially secure and comfortable retirement​​

 
  • Independent financial advice
  • Professionally qualified Independent Financial Advisers
  • Free Initial Consultation
  • Local experts meeting you in your nearest branch​

Get into shape for Retirement

Expert Independent
Pension Advice to help
your Retirement Planning​

Are you ready to​ retire? Or perhaps you’re still building your pension pot?​







Arrange a free retirement planning consultation now - and you could look forward to a more secure and comfortable retirement.

Speak to an Independent Financial Adviser in branch today or give us a call

​For an appointment with one of our Independent Financial Advisers you must have a single income of at least £40,000 or Joint Income of £60,000 or have investable assets of £75,000 or more. ​​​

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Book an Appointment ​​ ​​​​​​​​​​
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​Pensions have changed, so your Retirement Planning may need to change too.


We all have dreams of what we want to do when we retire – whether it’s spending more time travelling, or simply more time in the garden. But whatever our plans, we need a secure and steady income to fund the lifestyle we desire.

Now is a perfect time to review your financial and pension planning following pension changes in 2015/2016.



Independent Pension Advice - to help with big decisions

The new pension changes offer you a lot more choice and flexibility – but they also mean that big decisions may have to be made in regard to financial planning. For example, when do you want to begin to draw your pension? Do you plan on taking a cash lump sum? Or how can you get the best Annuity?

So it’s understandable that you may want tips for retirement planning and help in deciding what your best pension plans will be.

And because our service is independent (That is not restricted to any particular products or services) our advice team can recommend the most suitable products and services from the whole of the market.​



Arrange a free consultation now - and you could look forward to a more secure and comfortable retirement.​

Speak to an Independent Financial Adviser in branch today or give us a call

​For an appointment with one of our Independent Financial Advisers you must have a single income of at least £40,000 or Joint Income of £60,000 or have investable assets of £75,000 or more. ​​​

  • Team of Independent Financial Advisers
  • Providing a Whole of Market Service
  • ​No Fee for Initial Consultation
  • Meeting in your branch at a convenient time
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Our Independent Pension
Advice will help you:​

Prepare for retirement, step by step 

Even though it can seem a long way off, it’s actually never too early to start planning for retirement. Whether you’re still building up your retirement funds with private pension plans, or about to retire, we’ll discuss the many options available to you and how you can cope with changing circumstances.
 

Make sense of the 2015/2016 Pension Changes

With more pension options open to you after you reach 55, we’ll help you understand the wide range of choices and help you make the best use of your existing pension pot. 


Understand all the tax implications and advantages

Depending on your personal circumstances, there are many ways to get tax relief on your pension contributions – both when you’re putting money into your pension and when it comes to taking your money out, this tax treatment may be subject to change in the near future. Our Independent Financial Advisers will guide you through all the implications. 


Set clear income goals… and create a tailored retirement plan

There have been significant changes to the rules regarding pensions. Below we answer some of the most common questions relating to the new pension freedoms and provide links to some of the free government guidance. 
 

Fees and Charges

There is no charge for an initial consultation with a Independent Financial Adviser and you will be under no obligation to take the advice that is recommended or purchase any products as a result. We will charge a fee for: 

• Personal recommendations on retirement planning and/or investment solutions which are implemented for you 
• Reviews of pre-existing pensions and investments 
• Ongoing Advice Services 
• Ad-hoc Services 

 
The actual fee charged to you may vary and will depend on the amount of money you decide to invest and/or the complexity and scope of advice required to meet your financial needs and objectives. Your Independent Financial Adviser will always tell you exactly what the cost is before you commit to our services.

For advice on your protection requirements, commission will be paid to us by the product provi​der(s) and will be fully disclosed to you by your Independent Financial Adviser. ​
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There have been si​gnificant changes to the rules regarding ​pensions.
Here we answer some of the most common questions


What’s happening to pensions?
What type of pension do I need?

These new rules only apply to defined contribution (DC) schemes, also known as money purchase pensions, which are based on contributions that you and your employer make. They do NOT apply to defined benefit (DB) schemes or final salary pensions, which are based on your earnings and how long you’ve been a member. You should bear in mind that your existing personal pension provider is not obligated to offer this flexibility.

Should I ditch my final salary pension?

The new flexibility and tax advantages of DC pensions are tempting but you will be losing valuable benefits if you transfer out of a final salary pension, which makes transferring out unlikely to be a suitable option for you. Final salary pensions provide a guaranteed income after retirement and often come with additional perks such as inflation-proofing and pensions for spouses.

The government has said that anyone with final salary pension benefits of £30,000 or more must take professional financial advice first.

What about tax?

When you retire any cash you take above your 25 per cent tax-free lump sum is taxed as income, which could be nothing at all if you’re within your personal allowance (which is £11,000 for the 2016/2017 tax year), 20 per cent (basic rate), 40 per cent (higher rate), or 45 per cent (additional rate). Remember that any pension withdrawals are included as income so this alone could bring you into a higher tax bracket. Timing of taking benefits is also critical as it is important that emergency coding is not applied to these withdrawals.

Can I leave my pension invested?

Absolutely. You can leave the money invested in a drawdown product and access it over time as you see fit. Previously, you needed a certain level of guaranteed income from other sources if you wanted to take unlimited income from a pension in drawdown, but these rules were swept away in April 2015.

Can I still buy an annuity?

Yes. These insurance policies are still the only retirement products that offer a guaranteed income for life and for many people are still the best option. You don’t have to use your entire pension pot to purchase one.

Should I consolidate my pensions?

If you’ve accumulated several pension pots over the years you may want to bring them together under one roof, particularly if any old schemes carry higher charges.

You can transfer them to your current company scheme or into a private pension scheme. We will need to check that you won’t lose any valuable benefits first (such as guarantees or protection for your dependents) and watch out for excessive exit penalties.

Is my pension taxable when I die?

Yes, from April 2015 if you are over 55 and die before reaching age 75 your pension pot is exempt from Inheritance Tax. If you die over the age of 75 your pension can pass on to nominated beneficiaries who will only pay tax at their own income tax level. There is no restriction on who you can nominate as a beneficiary.

What about the state pension?

The amount of state pension you get will change if you qualify for it on or after 6 April 2016. The basic and additional state pensions are going to be replaced by a flat-rate, single-tier state pension with a full level of £155.65 in April 2016.

Want to learn more?

As part of the changes, the government are offering free guidance on your options online, by phone or face to face from Pension Wise. You can also find more general information about pensions and retirement at the Money Advice Service You can also speak to one of our Independent Financial Advisers if you need more help.

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Arrange a free retirement planning consultation now - and you could look forward to a more secure and comfortable retirement.

Speak to an Independent Financial Adviser in branch today or give us a call​​​

​For an appointment with one of our Independent Financial Advisers you must have a single income of at least £40,000 or Joint Income of £60,000 or have investable assets of £75,000 or more. ​​​

 
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